United Community Banks Secures Regulatory Approvals For First National Bank Of South Miami Merger
Portfolio Pulse from Benzinga Newsdesk
United Community Banks (UCBI) has received regulatory approval from the FDIC, Federal Reserve Bank of Richmond, and the South Carolina Board of Financial Institutions for its acquisition of First Miami Bancorp and its subsidiary, First National Bank of South Miami. The merger is expected to be completed on July 1, 2023.
May 30, 2023 | 8:32 pm
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UCBI has secured all necessary regulatory approvals for its acquisition of First Miami Bancorp and First National Bank of South Miami, with the merger set to complete on July 1, 2023.
The receipt of all necessary regulatory approvals is a significant milestone for UCBI's acquisition of First Miami Bancorp and its subsidiary. This development removes any uncertainty surrounding the merger and is likely to have a positive impact on UCBI's stock price in the short term.
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